Commodities Daily Forecast – December 12, 2018

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Published: Dec 12, 2018, 08:59 UTC

Gold The gold prices initially rallied during yesterday's session but turned around to show signs of exhaustion, breaking down below the $1250 level. The

Commodities Daily Forecast – December 12, 2018

Gold

The gold prices initially rallied during yesterday’s session but turned around to show signs of exhaustion, breaking down below the $1250 level. The 50 Day EMA line underneath should offer strong support to the market. Alternatively, if the market breaks higher, then it could easily reach towards the $1275 level. …Read More

Silver

The silver market experienced a bit of bullish pressure during the Tuesday’s session, rallying higher as the market looked concerned with the negative global developments. The 50 Day EMA line underneath continues to offer strong support and should likely to target the $15 level next. The USD will greatly influence the market and if it strengthens, then it will work against the value of silver. …Read More

WTI Crude Oil

The crude oil prices continued to trade sideways during the yesterday’s session with $50 level offering strong support to the market. This is a positive sign for the market, as it is successfully holding above the $50 level, and could reach towards the $55 level next. The market is likely to continue consolidation and if breaks below the $50 level, then it could reach down to $45 level. …Read More

Natural Gas

The natural gas prices initially tried rallying during yesterday’s session but failed and gave back all the gains. The $4.50 level is now offering a bit of resistance which is also the downside trend line of the symmetrical triangle. It is likely that the market will start rolling back given the fundamentals are not strong enough and a break below $4 level, will send the natural gas prices towards the $3.50 level. …Read More

About the Author

Colin Firstauthor

Colin specializes in developing trading strategies and analyze financial instruments both technically and fundamentally. Colin holds a Bachelor of Engineering From Milwaukee University.